Coin of the Magi, unique next generation currency for people everywhere! Coin Magi (XMG) is an online payment system, enabling instant payments to anyone in the world without needing an intermediary.
With Coin Magi, anyone in the world can issue digital coins through their personal computers and a software-based minting process. Coin Magi removes the competitive nature of minting and offers an even playing field for anyone looking to issue currencies without expensive equipment. Coin Magi distinguishes itself from other counter parties by its fairness, cost effective and energy efficiency in maintaining the operation of the system. PROOF OF WORK – POW
M7M (v2) hash function – only CPU mining
Iterative sequential algorithm and numerical computation operating through GMP floating points to disable parallel implementation
Block time: 3 minutes
MagiQuantumWave (MQW) difficulty adjustment per block
A new difficulty dependent block rewarding system to disable large mining farms PROOF OF STAKE II – POS-II
New staking mechanism PoS-II
Transaction dependent coin age; minimum coin age: 2 hours
Maximum coin age : see following explanation
Network weight dependent interest rate, maximum 5%;
Block time: 1.5 minutes;
Block hash: SHA256;
Maturity: 120 MAGI WALLETS WEBSITE:  MagiPay Standalone Payment Gateway for Coin Magi
_______________________________________________________________________________ _______________________________________________ MAGI MINING Magi is designed to be energy efficient on the whole, through a variety of dynamic adjustment mechanisms as well as its focus on the CPU mining. The general design concept is to reduce energy consumption during PoW. The use of hybrid PoW/PoS in the meantime secures the network.
Mine Magi with your computer. New in Crypto? Pools |
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 Magi will launch the Magi's android app this month!  |
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i made a vps miner for fun..
but i cannot understand why people mine this?
i cannot get any profit from this: time to setup miner cost me more than it ever makes coins to me.
vps cost more than magi makes.
cpu uses more power than magi makes you??
explain me please?
pure botnet coin?
It can be easily be profitable. The problem is that the bigger the hashrate is the lower the block reward is. A lot of people don't understand this or simply don't care so they mine with a few thousand kh/s. They could earn more by diminishing their hashrate but they're not really clever so they don't  ! This needs a change of mindset. With Bitcoin it was the higher the hashrate the better the reward. With the coins launched after BTC it was almost always the same. This mindset change will take time! |
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Joe can add this one in the OP?  |
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As mentioned by fragilefungi, a convenient miner (ideally click & go mining) is a much need, and I believe that will get us more miners without painful compiling (notice if you compile from the source code, you might get a specific optimized miner only for your pc which might be efficient than the following compiled ones). Also, I compiled the miner with "-e" flag to adjust the CPU efficiency from inside the miner. https://github.com/magi-project/m-cpuminer-qthttps://github.com/magi-project/m-cpuminer-v2I have forked the code of ScryptMiner by Matoking ( https://github.com/Matoking/ScryptMiner-GUI), which is based on Qt. This is very advantageous; we can add codes later on to adapt to the special block reward of magi, and design a smart miner with strategy mining. This will be a one in the to-do list. Here are the compiled binaries: http://coinmagi.org/files/m-cpuminer/m-cpuminer-qt-64-win.ziphttp://coinmagi.org/files/m-cpuminer/m-cpuminer-qt-32-win.ziphttp://coinmagi.org/files/m-cpuminer/m-cpuminer-qt-64-ubuntu.tar.gzhttp://coinmagi.org/files/m-cpuminer/m-cpuminer-qt-macosx-10.7.dmgThere are also minerd available here: http://coinmagi.org/files/m-cpuminer: http://coinmagi.org/files/m-cpuminer/m-minerd-64-win.ziphttp://coinmagi.org/files/m-cpuminer/m-minerd-32-win.ziphttp://coinmagi.org/files/m-cpuminer/m-minerd-64-ubuntu.tar.gzhttp://coinmagi.org/files/m-cpuminer/m-minerd-64-macosx.zipThese are how the Qt miner looks like:   Notice "-e 60" in block "Additional parameters" in the above image adjusts the CPU mining usage, e.g., 60%. All the parameters are automatically saved into m-cpuminer.conf, in the same folder. The GUI basically makes use of the miner under folder "miner". If you can compile with a higher efficiency, please let me know. Please make sure you modify the pool parameters, or you will mine through my account. This GUI is kinda similar to NeedIfFindIt's Sweet Spot http://xmg.makejar.com/, which will be better than this I believe; the advantage is that we can make it available for mac os and linux too, and most of other platforms because of Qt base. The linux version is statically linked, if you run into issues, let me know. I very much like the miner being compiled in low end/old system/pc. I believe magi's mining is useful in this aspect. I will get some details for the PoW. I do agree one mining a coin cares about the return, while I like the idea you place the miner with limited CPU usage, you can forget it (say 10% CPU): think about how many computers which run idle in the offices or other places for overnight, at least it's a waste of power. I am not encouraging you use an office PC for mining, but running a limited miner in a daily computer is quite doable, and that, from another point of view, is to save energy as they maintain a coin system provided that magi is useful at some extent and this purpose will be meaningful as well. Awesome job Joe. Well done. Are those also updated or added in the OP? |
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Think the blockreward is not high at the moment. So it might give you better results when the blockreward is higher again. And indeed Magi team will continue with awesome projects, campaigns and improvements. That might give a nice boost to the value. Also price was lower a few weeks ago. Magi will release the android app this month. |
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Thats really cool amigo! Thanks for the link. |
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Thanks theFix for your activity here! Its great to see members helping Magi and eachother! |
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The problem at the moment is the current high hashrate, gives no profit. Maybe increasing the max. hashrate limit would increase the profit, but I guess price will also decrease.
The main problem is we have a group of people that do not understand how Magi works, so they waste power and resources. Thats right amigo! Maybe we should make a short a good post again about how Magi works! Not a bad idea, basically if everyone dropped the hash to about 100 KH/s (per person) everyone would get more with less resources. Its all about less being more! Thats right! Btw good line: Less being more! This gives me a idea for new promotions. |
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Lol, our dev is a hero member now! It is about time Congrats Joe! You are doing this project well! Keep the good job! My birthday present for you:  P.S. If you don't know... this is your new avatar! Congrats Joe! Well done. Good to see you as Magi dev so active here! That is a good thing for Magi, for the community and for the Future! |
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The problem at the moment is the current high hashrate, gives no profit. Maybe increasing the max. hashrate limit would increase the profit, but I guess price will also decrease.
The main problem is we have a group of people that do not understand how Magi works, so they waste power and resources. Thats right amigo! Maybe we should make a short a good post again about how Magi works! |
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First thank you Drakoin for your post. At the moment Magi does not have that function to limit the cpu usage. I'am sure the info can help Magi and our developer Joe will look into that. He is working on improvements and I think your info come at the right moment! |
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Any chance to get paid for the last mining campaign?
Yes it will happen next week. All miners joining the Proof of Mining will receive their reward. |
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Hi Guys,
Can someone help me to setup and start mining at suprnova? I have tried it already but it is not working. I tried the guide on Suprnova but when I click the minerd. It will automatically close the command prompt. I'm using windows 7 64bit. I'm always getter the error stratum authentication failed.
Immediate closing of the minerd window usually indicated an invalid parameter. Can you share your command line? Stratum authentication failed means there is an error in your login data. Your command line should look like this: minerd.exe -o stratum+tcp://xmg.suprnova.cc:7128 -u dalelimin.cpu1 -p x under the condition that your username is dalelimin and you created a worker called cpu1 using password x I hope that helps. Hi, can you give me a link where to download the latest version for mining xmg? Also, how can I increase the hash rate for mining fast? I deleted those files because i'm getting errors. Thanks for helping. Dalelimin welcome in our awesome Magi community. Remember Magi is different than others coins. Mining Magi with high high hashrate will no help for gaining more coins. The higher the hashrate the lower the rewards. It's a mindset change for the mining world! You can find some info about it in the link above. Also check the first post here for more info. Any questions just ask. |
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Nice Kondiomir well done amigo.
Keep up the good work!
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The problem at the moment is the current high hashrate, gives no profit. Maybe increasing the max. hashrate limit would increase the profit, but I guess price will also decrease.
Might be or might be not. Coins are harder to collect. So better don't sell cheap and stake. With the coming developments and improvements I think the value will raise |
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Magi team is testing the android app.  You're such a teaser! Hehe, magic is advertising professional of the team, he is skilled at making big impacts; that is tremendous to all, isn't it? p.s., The app is awesome. Thanks for the nice words Joe. Appreciate this! |
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Thanks Erkallys.
Don't know about the staking.
About the PoM if have to calculate the rewards.
I will inform you later about that.
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